India’s NSE considers stock exchange listing

Chief Executive Ravi Narain told Dow Jones Newswires that the NSE and its board will look at soon-to-be-announced regulations that stipulate the conditions for listing the country's stock exchanges.

"Personally, I think listing has enormous merit if an exchange either needs to raise capital or get new technology which it would otherwise not be able to get," he said. "But if an exchange already has those, a listing is still attractive from the point of view of an exit, providing a more liquid entry and exit for other potential shareholders."

As well as General Atlantic, which acquired a 5% stake in 2007, the NSE has received investment from private equity firms including Premji Invest, Morgan Stanley Private Equity, Norwest Venture Partners, Actis Capital and SAIF Partners over the past five years.

Over the same period, the Bombay Stock Exchange has received backing from Soros Private Equity Partners, Argonaut Private Equity, Aditya Birla Capital Advisors and Caldwell Asset Management, while last year Standard Chartered acquired a 3% stake in India's youngest stock exchange, the United Stock Exchange.

Narain's comments come after the Securities and Exchange Board of India paved the way for stock exchanges to list at a board meeting earlier this month - provided they can ensure autonomy for their supervisory functions.

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• Topics
• South Asia
• Financials
• Regulation
• Exits
• Financial Services
• India
• General Atlantic
• Morgan Stanley Private Equity Asia
• Norwest Venture Partners
• Actis Capital
• SAIF Partners
• Aditya Birla Capital Advisors